Retail Sales

In July, retail sales of consumer goods stood at 601.2 billion yuan, up 13.7 percent year on year, according to the National Bureau of Statistics (NBS). From January to July, the total sales volume amounted to 4.25 trillion yuan, a year-on-year increase of 13.4 percent.

By region, retail sales of consumer goods in urban areas peaked at 408.2 billion yuan in July, rising 14.2 percent over a year ago, and those in rural areas grew 12.6 percent to 193.1 billion yuan.

By sector, the sales volume of the wholesale and retail sector went up 13.6 percent to 508.3 billion yuan, that of the accommodation and catering sector rose 16.7 percent to 78.2 billion yuan and that of other sectors totaled 14.7 billion yuan, up 2.1 percent compared with the year-earlier period.

Retail sales of food, clothing and commodities rose 15.1 percent, 18.2 percent and 19.2 percent, respectively, year on year.

CPI

In July, the overall consumer price index (CPI) was 1 percent higher than that in the same period last year, said the NBS. The CPI rose 1 percent in urban areas and gained 1.1 percent in rural areas, respectively, year on year. From January to July, the CPI rose 1.2 percent over the same period last year. On a monthly basis, the CPI saw a decline of 0.3 percent from June.

By category, the price of food increased 0.6 percent while that of non-food went up 1.2 percent from a year ago. Prices of consumer goods and services were up 0.7 percent and 2.3 percent, respectively, year on year.

PPI

The producer price index (PPI) for manufactured goods increased 3.6 percent over the year-earlier period in July, according to the NBS. Specifically, purchasing prices of raw materials, fuel and power jumped 6.7 percent year on year.

Producer prices of production materials registered a growth of 4.8 percent from a year ago, while those of consumer goods remained steady from the same period last year.

In July, producer prices of crude oil increased 26.6 percent. Among refined oil products, prices of gasoline, kerosene and diesel rose 25.4 percent, 27 percent and 21.2 percent, respectively, year on year.

Producer prices of raw coal climbed 2.4 percent from a year ago. Prices of smelting and pressing of ferrous metals saw a decline of 2.7 percent compared with the same period last year, while those of smelting and pressing of non-ferrous metals expanded 26.9 percent over the year-earlier period.

Purchasing prices of fuel power, non-ferrous metal materials and chemical materials grew 13.1 percent, 37.2 percent and 2.2 percent, respectively, year on year, while those of ferrous metal materials dropped 1.5 percent from a year ago.

From January to July, the PPI went up 2.9 percent compared with the same period last year and purchasing prices of raw materials, fuels and power climbed 6.1 percent over a year ago.

Technology Introduction

According to statistics released by the Ministry of Commerce, 6,390 technology introduction contracts were signed from January to July. The total value of these contracts was $14.83 billion, surging 56.5 percent compared with the same period last year. Of this total, technology fees amounted to $9.12 billion, contributing 61.5 percent to the total value.

In the first seven months, imports and exports of knowledge license contracts were valued at $4.76 billion, soaring 62.2 percent and contributing 32.1 percent to the total contractual value of technology introduction. The transaction value of joint ventures or cooperation production with introduced technologies, as well as technology consultation and technical services, amounted to $3.7 billion and $2.81 billion, accounting for 25 percent and 19 percent of the total value of technology introduction, respectively.

The EU was the biggest source of China's technology introduction in the first seven months. The value of technology introduction contracts signed between China and the EU reached $6.26 billion, shooting up 37.4 percent and accounting for 42.2 percent of the country's total value of technology introduction. Japan and the United States ranked second and third, with contractual value of $3.63 billion and $2.49 billion, constituting 24.5 percent and 16.8 percent of China's total technology introduction contracts.

During the January-July period, technology introduction by state-owned enterprises amounted to $69.9 billion, soaring 90.7 percent compared with the year-earlier period, contributing 47.1 percent to the country's total value of technology introduction. At the same time, foreign-funded enterprises introduced technologies valued at $6.93 billion, accounting for 46.8 percent of the national total.

Railway transportation continued to be the fastest growing recipient of overseas technologies in China. Technology introduction contracts registered by the railway sector in the first seven months increased eightfold to $3.94 billion. That accounts for 26.8 percent of the total value of technology introduction. During this period, technologies introduced by electrical and communications equipment manufacturing as well as transportation equipment manufacturing sectors were valued at $2.93 billion and $1.19 billion, constituting 19.8 percent and 8 percent, respectively.

Bank of Beijing

Bank of Beijing has received approval from the China Banking Regulatory Commission to open a branch in Tianjin, a rising economic center in north China whose economy grew 15 percent last year. Bank of Beijing, 19.9 percent of which is owned by ING Group NV, thus became the country's second local lender to expand outside its city headquarters.

China's banking regulator said last year that it will allow some eligible city banks to expand outside their home bases, making them more attractive to overseas investors.

Bank of Shanghai, 8 percent owned by HSBC Holdings Plc, is the first such lender to get the nod and has opened a branch in nearby Ningbo City, Zhejiang Province.

Bank of Beijing, the second biggest city commercial bank in China, had assets worth 238.5 billion yuan at the end of June. Its capital adequacy ratio, a key measure of a lender's financial strength, stood at 12.85 percent, above the regulator's 8 percent requirement.

The lender's non-performing loan ratio dropped to 4.06 percent as of June 30 from 4.22 percent at the end of last year.